The CEO of market insight firm CryptoQuant says the United States is regaining dominance in Bitcoin (BTC) holdings.
In a new post on social media platform
“The US is regaining dominance in Bitcoin holdings. Ratios to other countries are increasing, driven by spot ETF demand. Only known entities are included.”
According to Zhu, the top crypto assets by market capitalization have absorbed numerous downside events and overcome FUD (Fear, Uncertainty and Doubt) this year without suffering any major blows.
“Bitcoin won all the FUD this year. As predicted by the data, the market absorbed the Mt. Gox and German Bitcoin selling with minimal impact.”
At the time of writing, Bitcoin was trading at $64,505, down more than 2% in the past 24 hours.
Zhu went on to say that the early release of former Binance CEO Qiao Changpeng (CZ) has created a “bullish atmosphere” and could trigger an overall market rally.
“CZ exited early today, and bullish vibes are everywhere. I don’t know why, but I feel the same way. All he has to do is post “I’m back,'' and the market skyrockets. I will.”
Zhao, who founded the world's largest cryptocurrency exchange platform by trading volume in 2017, was sentenced to prison in May after pleading guilty to violations related to the anti-money laundering requirements of the Bank Secrecy Act.
Never miss a beat – Subscribe to get email alerts delivered straight to your inbox
Check price action
follow me ×Facebook and Telegram
Surf the Daily Hoddle Mix
 
Disclaimer: The opinions expressed on The Daily Hodl do not constitute investment advice. Investors should perform due diligence before making high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Please note that transfers and transactions are made at your own risk and you are responsible for any losses you may incur. The Daily Hodl does not recommend buying or selling any cryptocurrencies or digital assets. The Daily Hodl is also not an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated image: Mid Journey
